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Current report

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Current Report No. 42/2022

Continuation of coking coal sales cooperation with ArcelorMittal S.A.

Body of the report:

In reference to current report 10/2018, the Management Board of Jastrzębska Spółka Węglowa S.A. (“Company”), having regard for the strategic nature of the Company’s cooperation with ArcelorMittal Poland S.A. with its registered office in Dąbrowa Górnicza, hereby reports that the terms of business regarding coking coal deliveries in 2023-2025 have been agreed upon and on 28 October 2022 the parties entered into an annex to their long-term agreement (“Agreement”).

The Agreement assumes that the parties will continue to cooperate with one another and the estimated value of the Agreement in 2023-2025 may surpass PLN 7 billion. Following this period the Agreement will be subject to extension for subsequent years up to the end of 2029 at the maximum, after agreeing on the structure related to quality and quantity provided that neither of the parties terminates it. Based on this Agreement annual contracts will continue to be executed to agree on the specific terms of business.

The remaining provisions of the Agreement remain unchanged and are standard for these types of agreements.

Legal basis: Article 17(1) of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on Market Abuse and Repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.

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